Earnings Coverage - PNC Financial Services

LONDON, January 28, 2015 /PRNewswire/ --

Investor-Edge.com has issued free earnings coverage on The PNC Financial Services Group Inc. (NYSE: PNC). On January 16, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC to read our free earnings review on The PNC Financial Services Group Inc. (PNC Financial). During Q4 FY14 and FY14, the company recorded net income of $1.06 billion and $4.21 billion, respectively. Chairman, President and CEO, William S. Demchak, said that PNC Financial had successful year in 2014, as the company added customers, grew loans and deposits, increased fee income and capital, and reduced expenses. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC

Earnings Overview 

During Q4 FY14, PNC Financial's total revenue stood at $3.95 billion, compared to $4.07 billion in Q4 FY13. The company's total revenue during the quarter outperformed Bloomberg analysts' revenue forecast of $3.80 billion. In Q4 FY14, PNC Financial's net interest income fell to $2.10 billion from $2.27 billion in Q4 FY13. However, in Q4 FY14, the company's noninterest income improved to $1.85 billion from $1.81 billion in Q4 FY13. The free research on PNC can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC

For Q4 FY14, PNC Financial's net interest margin was 2.89%, compared with 3.38% in Q4 FY13. In the reported quarter, PNC Financial's net income attributable to diluted common shares stood at $0.98 billion, or $1.84 per diluted common share, compared to $1.00 billion, or $1.87 per diluted common share, in Q4 FY13. Analysts from Bloomberg had expected the company to report net income attributable to diluted common shares of $0.93 billion, or $1.74 per diluted common share, in Q4 FY14. During the reported quarter, the company repurchased 6.1 million common shares for $0.5 billion.

In FY14, the company recorded total revenue of $15.38 billion, compared to $16.01 billion in FY13. PNC Financial's total revenue during FY14 outperformed Bloomberg analysts' forecast of $15.25 billion. The company reported net interest income of $8.53 billion in FY14, compared to $9.15 billion in FY13. Further, the company's FY14 noninterest income stood at $6.85 billion, compared to $6.87 billion in FY13. Sign up and read the free analyst's notes on PNC at:

http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC

PNC Financial recorded net interest margin of 3.08% in FY14, compared to 3.57% in FY13. Meanwhile, the company's net income attributable to diluted common shares in FY14 stood at $3.92 billion, or $7.30 per diluted common share, compared to $3.92 billion, or $7.36 per diluted common share, in FY13. Analysts from Bloomberg had expected the company to report net income attributable to diluted common shares of $3.87 billion, or $7.21 per diluted common share, in FY14.

As on December 31, 2014, PNC Financial's transitional Basel III common equity Tier 1 capital ratio was an estimated 11.0%, while pro forma fully phased-in Basel III common equity Tier 1 capital ratio was an estimated 10.0%.

Mr. Demchak informed that while the near-term revenue environment remains challenging, PNC Financial is well-positioned as it heads into FY15. He added that the company is a year further into the execution on its strategic priorities and continues to make important progress across the board. He also asserted the company has a strong capital position and a more liquid balance sheet. The company expects its continued execution to help drive long-term shareholder value, Mr. Demchak concluded. Visit Investor-Edge and access the latest research on PNC at:

http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC

On January 02, 2015, PNC Financial's board of directors declared a quarterly common stock cash dividend of $0.48 per share, payable on February 05, 2015. PNC Financial also returned $1.1 billion in FY14 to the shareholders through repurchase of 12.9 million common shares, under programs to repurchase up to $1.5 billion for the four quarter period beginning in Q2 FY14 under its existing common stock repurchase authorization.

Stock Performance 

On the day of the earnings release, January 16, 2015, PNC Financial's stock gained 2.45% to end the session at $84.44. Since then, the stock has mostly witnessed a positive momentum. However, on the last close, Tuesday, January 27, 2014, the company's shares finished 1.47% lower at $85.50, after vacillating between $85.19 and $86.28. A total of 2.22 million shares were traded which was below its three months average volume of 2.47 million shares. Over the past three months and over the last one year, the company's shares have gained 3.19% and 5.82%, respectively. However, the stock has fallen by 1.79% in previous three trading sessions. Shares in PNC Financial are trading below their 50-day and 200-day moving averages of $88.17 and $85.72, respectively.

Sneak Peek to Corporate Insider Trading 

In the last one month, there were two corporate insider transactions. On January 20, 2015, a total of 7,041 shares have been disposed at an average price of $84.79 per share and for a total value of $596,971. These transactions were done by Michael P. Lyons, Head of Corporate & Institutional Banking at PNC Financial, and Todd E. Chamberlain, President and CEO of PNC Mortgage, who sold 5,342 and 1,699 shares, respectively. Complimentary in-depth research on PNC is available at:

http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=28-Jan-2015&s=PNC

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